PROCEPT BioRobotics (NASDAQ:PRCT) Stock Price Down 8% - Should You Sell?

Key Points

• PROCEPT BioRobotics shares experienced an 8% decline in trading, dropping from a previous close of $58.64 to $53.92.
• Brokerages have recently adjusted their price targets for PROCEPT BioRobotics, with Morgan Stanley lowering theirs from $71.00 to $68.00 while maintaining an "overweight" rating.
• Despite a negative earnings report, the company reported a 55.5% increase in revenue compared to the previous year, reaching $69.16 million.
• Insider trading activity showed a significant sale, with Director Antal Rohit Desai selling 25,000 shares at an average price of $61.49, reflecting a 63.51% decrease in their stake.

Shares of PROCEPT BioRobotics Corporation (NASDAQ:PRCT - Get Free Report) fell 8% during trading on Friday . The stock traded as low as $51.50 and last traded at $53.92. 336,782 shares traded hands during trading, a decline of 64% from the average session volume of 935,529 shares. The stock had previously closed at $58.64.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Bank of America cut their price target on shares of PROCEPT BioRobotics from $104.00 to $84.00 and set a "buy" rating on the stock in a report on Friday, April 25th. Truist Financial cut their price target on shares of PROCEPT BioRobotics from $90.00 to $70.00 and set a "buy" rating on the stock in a report on Friday, April 11th. Wall Street Zen downgraded shares of PROCEPT BioRobotics from a "hold" rating to a "sell" rating in a report on Saturday, July 12th. Oppenheimer assumed coverage on shares of PROCEPT BioRobotics in a report on Monday, July 7th. They set a "market perform" rating on the stock. Finally, Morgan Stanley lowered their target price on shares of PROCEPT BioRobotics from $71.00 to $68.00 and set an "overweight" rating on the stock in a research note on Tuesday, July 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $84.13.

PROCEPT BioRobotics Stock Down 2.9%

The company has a debt-to-equity ratio of 0.13, a current ratio of 8.95 and a quick ratio of 7.75. The stock's 50 day simple moving average is $58.97 and its two-hundred day simple moving average is $60.79.

PROCEPT BioRobotics (NASDAQ:PRCT - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported ($0.45) earnings per share for the quarter, topping analysts' consensus estimates of ($0.49) by $0.04. PROCEPT BioRobotics had a negative net margin of 36.20% and a negative return on equity of 28.09%. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $65.39 million. During the same period in the previous year, the firm posted ($0.51) earnings per share. The company's revenue was up 55.5% on a year-over-year basis. On average, equities research analysts anticipate that PROCEPT BioRobotics Corporation will post -1.75 earnings per share for the current year.

Insider Buying and Selling at PROCEPT BioRobotics

In other PROCEPT BioRobotics news, Director Antal Rohit Desai sold 25,000 shares of the business's stock in a transaction dated Thursday, June 12th. The shares were sold at an average price of $61.49, for a total value of $1,537,250.00. Following the completion of the transaction, the director directly owned 14,363 shares of the company's stock, valued at approximately $883,180.87. The trade was a 63.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 100,000 shares of company stock valued at $6,271,250 over the last ninety days. Insiders own 17.40% of the company's stock.

Institutional Investors Weigh In On PROCEPT BioRobotics

Several institutional investors have recently modified their holdings of PRCT. ANTIPODES PARTNERS Ltd acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth approximately $30,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of PROCEPT BioRobotics during the 1st quarter worth approximately $40,000. Thematics Asset Management acquired a new stake in shares of PROCEPT BioRobotics during the 4th quarter worth approximately $46,000. CWM LLC grew its position in shares of PROCEPT BioRobotics by 69.5% during the 1st quarter. CWM LLC now owns 873 shares of the company's stock worth $51,000 after buying an additional 358 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of PROCEPT BioRobotics by 32.5% during the 1st quarter. Nisa Investment Advisors LLC now owns 1,100 shares of the company's stock worth $64,000 after buying an additional 270 shares during the period. Institutional investors and hedge funds own 89.46% of the company's stock.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).